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WTI

W&T Offshore

$8.09

0.37 (4.79%)

06:35
09/25/18
09/25
06:35
09/25/18
06:35

W&T Offshore to sell overriding royalty interests in Permian Basin for $56.8M

W&T Offshore announced that it has entered into a definitive purchase and sale agreement to divest its ownership in overriding royalty interests in the Permian Basin for $56.8M. The transaction, subject to customary closing conditions and adjustments, is expected to close on or before October 1. The company also announced that it has successfully drilled an exploration well from the South Timbalier 311 platform that is part of the Ewing Bank 910 field. The ST 320 A-2 exploratory well has reached total depth and is being prepared for completion. The company logged approximately 163 feet of net hydrocarbon, which exceeds pre-drill estimates. W&T expects to have the well on production via existing infrastructure before year-end 2018. Following the completion of the ST 320 A-2 well, the rig will spud the ST 320 A-3 well, another low-risk exploration opportunity in the Ewing Bank 910 field. Stratigraphic information from a high quality thick Miocene sand that was penetrated up-hole in the ST 320 A-2 well has lowered the perceived risk on the ST 320 A-3 oil prospect. Both of these wells in the Ewing Bank 910 field are part of a drilling joint venture, or JV, program established by W&T and private investors in 2018. Prior to inclusion of these wells in the JV drilling program, W&T's working interest in these wells were 36%. As a result of the JV drilling program and other promoted working interests at the ST 320 A-2 well, W&T is expected to contribute 4.8% of the total capital expenditures and will receive 10.8% of the net revenues less expenses until certain thresholds are met, at which time W&T's effective interest in this well will increase to 13.8%.

WTI W&T Offshore
$8.09

0.37 (4.79%)

06/14/18
06/14/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Capital One (COF) upgraded to Overweight from Neutral at Piper Jaffray with analyst Kevin Barker saying the company's credit profile has improved faster than expected. 2. KBR (KBR) upgraded to Neutral from Sell at Goldman Sachs. 3. NL Industries (NL) upgraded to Equal Weight from Underweight at Barclays with analyst Duffy Fischer saying improvement in equity earnings at Kronos, primarily due to higher TiO2 price realization, provides a better outlook. 4. W&T Offshore (WTI) upgraded to Buy from N/A previously at Seaport Global with analyst Mike Kelly citing an improved oil price outlook, industry-wide capital improvements across the Gulf of Mexico, and company specific events including the attractively priced acquisition and a transformational JV agreement. 5. American Campus (ACC) upgraded to Buy from Neutral at BofA/Merrill with analyst Juan Sanabria saying American Campus is positioning to be a leader in student housing and sees support from institutional interest in the space and views it as attractive versus multifamily valuations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/14/18
GHSC
06/14/18
UPGRADE
GHSC
Buy
W&T Offshore upgraded to Buy from N/A previously at Seaport Global
Seaport Global analyst Mike Kelly upgraded W&T Offshore to Buy from N/A previously with a $9 price target citing an improved oil price outlook, industry-wide capital improvements across the Gulf of Mexico, and company specific events including the attractively priced acquisition and a transformational JV agreement. Kelly said W&T's Gulf of Mexico assets have been revitalized and leverage "drastically" improved.
05/23/18
05/23/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Quantenna Communications (QTNA) initiated with a Buy at Stifel. 2. Cesca Therapeutics (KOOL) initiated with a Buy at H.C. Wainwright. 3. W&T Offshore (WTI) initiated with a Neutral at Roth Capital. 4. Carrols Restaurant (TAST) initiated with a Buy at SunTrust. 5. Vanda initiated with a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/23/18
ROTH
05/23/18
INITIATION
Target $8.75
ROTH
Neutral
W&T Offshore initiated with a Neutral at Roth Capital
Roth Capital analyst John White initiated W&T Offshore with a Neutral rating and $8.75 price target, citing his view that the shares are fully valued at current levels.

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SPDR Gold Trust

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USO

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UNG

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HYG

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iShares iBoxx $ Investment Grade Corporate Bond

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iShares 1-3 Year Treasury Bond

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INSW

International Seaways

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MNR

Monmouth Real Estate

$15.49

0.08 (0.52%)

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Monmouth Real Estate acquires industrial building in New Jersey for $85.25M »

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TEUM

Pareteum

$2.47

-0.07 (-2.76%)

17:38
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Breaking Syndicate news story on Pareteum »

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TEUM

Pareteum

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-0.07 (-2.76%)

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Breaking Syndicate news story on Pareteum »

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NOC

Northrop Grumman

$307.77

-0.445 (-0.14%)

, LMT

Lockheed Martin

$328.22

0.21 (0.06%)

17:33
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Periodicals
Trump to meet CEOs of Boeing, Lockheed Martin, General Dynamics, Reuters reports »

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LMT

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BA

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GD

General Dynamics

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BAESY

BAE Systems

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HON

Honeywell

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ISR

IsoRay

$0.50

0.0191 (3.98%)

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NHS

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BIOC

Biocept

$2.27

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AZO

AutoZone

$726.10

-4.09 (-0.56%)

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SACH

Sachem Capital

$4.33

0.02 (0.46%)

17:03
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Breaking Syndicate news story on Sachem Capital »

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MRTX

Mirati Therapeutics

$40.04

-1.82 (-4.35%)

16:53
10/19/18
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16:53
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Conference/Events
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SPNE

SeaSpine

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-0.54 (-3.15%)

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Breaking Hot Stocks news story on SeaSpine »

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EPZM

Epizyme

$8.76

-0.04 (-0.45%)

16:46
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EWI

MSCI Italy Index

$25.52

0.38 (1.51%)

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16:40
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ASTC

Astrotech

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Breaking Hot Stocks news story on Astrotech »

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CTMX

CytomX Therapeutics

$15.43

-1.075 (-6.52%)

16:38
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CytomX Therapeutics to host conference call »

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ICLK

iClick Interactive Asia

$3.41

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Breaking Hot Stocks news story on iClick Interactive Asia »

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TGLS

Tecnoglass

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Breaking Syndicate news story on Tecnoglass »

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  • 07

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Options
Preliminary option volume of 24.7M today »

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OXM

Oxford Industries

$81.36

-1.68 (-2.02%)

16:28
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Conference/Events
Oxford Industries management to meet with Sidoti »

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HELE

Helen of Troy

$120.52

0.31 (0.26%)

16:26
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Helen of Troy management to meet with Sidoti »

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